Democratic Northwest. [volume] (Napoleon, Ohio) 1869-1894, 1887-06-09
THE WORLDS MONEY.

Iation of the world at So, 1000, 900.
More than half the human family have
no other money! The annual silver
production of the world is Sill, 800, 900,
of which SOC, 900 is converted into
coin, the balance is used in the arts
The silver product of this country is
about S50,000,000 annually, of which
s., ,000, 900 are converted into articles of
utility and ornament --fs7,-
1t is estimated that about one
twentieth of the silver coin is annually
lost by abrasion, wear and casualties;
an amount in excess of the annual
addition by coinage. Theworld is not
likely, therefore, to be delpged with
silver. The United. States produces
$50, 900, 600 of the SILT 100000 of silver,
of which about one-haf we convert in
to coin. ...u ....,... 10.
What u grand harvest our National
bankers would have if the coinage of
silver was suspended and they were
allowed to substitute their debts to fill
the vacuum! 1t is said that the Sub
Treasurer at New York is an enthusIas-
tic advocate of the scheme to transfer
the silver bullion market from London
to New York by dealing in it as other
commodities, and making bullion GER
tificates the basis of financial specula-
tion. OF course by the suspension of
silver coinage the speedy demonetiza-
tion of the metal would soon follow
We denounce the conspiracy of capita
lists to drive silver money from circula-
tion as high crime. Ours is the prin-
cipal silver-producing country of the
world, and its chief value consists in its
being converted into coin, yet bankers
and money lenders are intent upon
destroying this great source of wealth
and instrument of exchange.
To secure the cooperation of those
engaged in agriculture these conspira-
tors refer to the fact that the price of
wheat is regulated by the bullion value
of silver. That as silver declines in
price, wheat declines in corresponding;
ratio. If this is true, what will be the
effect upon the wheat market If silver
is demonetized and this metafis left to
the bulls and bears to deal in as in
other commodities? Ofcourse its price
will be merely nominal, gold being the
only standard.
Why are our granaries filled with
wheat, commanding u price less than
the cost of production? Why have we
40 foreign market for our cereals?
England, once large buyer, gets her
supply now from India. Silver is the
only money in India. England buys
up our silver bullion at 10 per cent. in
gold, coins it into the money Of India
and pays it out at 100 per cent. for
wheat. This is the reason why Ameri-
can whea: rises or falls with the bullion
price of silver. If silver was demone-
tized, it's coinage suspended and bull
lion certificates left to the tender mercy
of bankers, with Ex-Secretary Man.
ming as their chief. the price of Ameri-
can wheat would be still less in q for
efgn market unless silver Is deInone-
ttized in India, which is not likely to
occur. .tgt s ...ea
On the other hand, if our Govern
ment would establish the unlimited
coinage of silver, England would have
to pay par value for our bullion, and
pay par value for grain in India, which
would enable our farmers to compete
with India in the wheat markets OF
Europe. 1t is then clearly to the in
terests of American farmers that silver
should be appreciated in price relative
to gold, which can only be done by its
unlimited coinage.
We admire the cunning and shrewd
ness of EngIand's financiering. She
makes gold the only standard, renders
silver a cheap commodity, converts il
into the money of India and then gath.
ers up the breadstuffs in deprecated
coin at par. If the bullion gamblers
| of London can transfer their opera
tions to New York City, and still
further depreciate the bullion value OF
silver, destroy its use as money, they
can close the markets of Europe against
our cotton and breadstuffs, gather their
supplies from their own dependencies,
at q reduced cost, and pay for them in
depreciated coin. will the Ameri-
can people be guilty of the supreme
folly of furthering the designs of the
money lords of England and of ouI
own country who are c0nfederating to-
gether to rob the producing classes OF
all countries?
The only way to defeat the robbers is
for the United States to maintain its
bimetaIIic standard, and coin without
| Limitation or restriction both gold and
silver. "1 t--+
| II three billions of silver coin were
! stricken from the worlds circulating
...ediun, what havoc and desolation
would follow! All property, real and
personal, would depreciate in price
more than one-haf, the limbs of labor
would be paralyzed, destitution and
starvation would be the portion of the
working classes, and bankruptcy over
take ali men of enterprise. The hold
ers of gold and bankers would gorge
themselves with the wealth of the
world. To the extent that our Ameri-
can financiers are allowed to carry out
their plan these disasters will be in
voked. A great banker in New York
says he sees no reason why silver
should not be bought and sold like
grain and oil. We see a thousand
reasons why silver should NOT be made
mere article of merchandise, and we
are assured that 1T can not be accom-
plished in any other way but by sus-
pending its coinage and forcing its
demonetization. One Of the thousand
reasons is, we believe, sufficient to
array the people against the villainous
design. With all the silver and gold
which is available for coinage, the
worlds supply of money is inadequate
to the needs Of our rapidly increasing
trade and commerce. If we have too
much of either coin to suit the conven-
ience of the people in their small daily
transactions, let the Government issue
certificates upon the deposit of coin,
which. with Treasury notes, Will con